The federal government has said it will soon unveil a series of intervention schemes aimed at mitigating the impact of the recent tariffs imposed by the United States government on imported goods.
Speaking yesterday at a ceremony where the Nigeria Association of Small and Medium Enterprises (NASME) honoured the Chief Executive Officer of Cutix Plc, Ijeoma Odunoye, with an award for excellence and entrepreneurial success, the Special Adviser to the President on Job Creation, Mr. Adekunle Tola Johnson, affirmed the government’s readiness to respond to the tariff shock.
“I’m aware that the Ministry of Finance has issued a statement with regard to the tariff by the American government under Donald Trump. And whatever the Minister of Finance has said is more than sufficient. However, I know that President Bola Ahmed Tinubu will be announcing a number of schemes to absorb some of the shocks that will come out of the tariff implementation,” Johnson stated.
He also recalled that in 2023, the President introduced designated business hubs equipped with international-standard equipment to support SMEs operating in sectors such as Information and Communication Technology (ICT), agriculture, and fashion. These hubs offer SMEs access to facilities for up to eight hours daily, depending on their production needs.
“Last year, the President announced places SMEs can do businesses with international equipment—ICT, agriculture, fashion, etc. By the end of this year, we will do another eight or 10 more so we could have about 20.
This is inclusive of having job creation. SMEs can go and log in to these facilities eight hours a day. It depends on what you want to produce,” he said.
Meanwhile, Ijeoma Odunoye, who also serves as NASME’s Deputy President (South), was celebrated for her outstanding leadership at Cutix Plc. The company reported a remarkable financial performance in 2024, with a revenue of N12.18 billion, profit before tax of N1.62 billion, and profit after tax of N1.07 billion—representing year-on-year growth of 32%, 36%, and 35% respectively.
In her acceptance speech, Odunoye dedicated the award to the board, management, and entire workforce of Cutix Plc, stressing the company’s unwavering commitment to quality.
“I appreciate the board of directors of the company that had worked hand-in-hand with the management to reach the milestone we are celebrating today,” she said.
“I appreciate the management team and every staff member of Cutix. I appreciate every contribution because I couldn’t have done it alone and I believe God will take us to greater heights.”
Sharing the philosophy behind the company’s enduring reputation, she added: “My advice has always been, for everything you want to do, let the quality speak for you. For every business you want to go into, try to find out what the rudiments and standards guiding it are, and you work according to these. That has kept Cutix going.”
“People will come to the market and say Cutix is expensive, but buy Cutix and sleep with your two eyes closed. Even the electricians will tell you, that if you don’t want to be spending on repairs and maintenance, use Cutix. It is expensive because we don’t cut corners. I’m telling people as a member of NASME, whom I call my family, quality will speak for you,” she said.
Cutix Plc is a leading Nigerian manufacturer of electrical, automotive, and telecommunications wires and cables. The company has earned widespread recognition for product quality and has consistently won the Standards Organisation of Nigeria’s NIS Gold Award since 2003.
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